Craig, Nebraska Property Taxes
The median property tax rate in Craig, NE is 1.67%, significantly higher than both the national median of 0.99% and the Nebraska state median of 1.54%. With a median home value of $144,200 in Craig, the typical annual property tax bill amounts to $2,409, which is slightly below the national median of $2,690. Property taxes in Craig are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Navigating Craig's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to notable annual savings. Whether you're in the heart of Craig or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Craig, Nebraska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.28%
Estimate Property Tax Bill
$8,437
$7,829
Ownwell’s Craig Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Craig with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Craig to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Craig, Nebraska
Property taxes in Craig, Nebraska, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Craig is 1.28%, significantly higher than the U.S. national median of 0.99%. Local government entities within Craig set these rates annually, and they can vary across different neighborhoods. Each year, Craig estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Craig's effective property tax rate to other counties in Nebraska and the national median. For comparison, the zip code 68019 in Washington County has the highest median property tax rate of 1.28%, while the same zip code also has the lowest median tax rate of 1.28%. Understanding how these cities compare with Craig provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Craig Tax Rate
1.28%
Average Washington County Tax Rate
1.71%
Average Nebraska Tax Rate
1.75%
Average United States Tax Rate
0.99%
Property Tax Rates Across Craig, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68019 | 1.28% | 1.28% | 1.28% | 1.28% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Craig, Nebraska
In Craig, Nebraska, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Washington County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Craig, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Craig helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Craig is $8,465 in zip code 68019, which highlights the importance of understanding and managing your property taxes efficiently.
Average Craig Assessed Value
$659,140
Average Washington County Assessed Value
$234,648
Average Nebraska Assessed Value
$182,439
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Craig, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68019 | $300,423 | $364,545 | $659,140 | $1,003,105 | $1,018,039 |
Source: Ownwell
Property Tax Bills Across Craig, Nebraska
In Craig, located in Washington County, NE, property tax bills are calculated based on the assessed value of a home, which is then multiplied by the local tax rate. The median home price in Craig is $659,140. Homeowners in this area face varying property tax bills, with the 25th percentile paying around $4,684 and the 75th percentile paying up to $12,817. The tax bill can even reach $13,022 for those in the 90th percentile. Several factors influence the final tax bill, including the assessed value of the property, local tax rates, and any applicable exemptions. These elements combine to determine the financial obligation of homeowners, impacting their annual budgets. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners in Craig to understand how their local rates measure up. For instance, the highest median tax bill in the area is $8,465 in the 68019 zip code, reflecting the significant variation within the county.
Average Craig Tax Bill
$8,465
Average Washington County Tax Bill
$4,036
Average Nebraska Tax Bill
$3,071
Average United States Tax Bill
$2,690
Property Tax Bills Across Craig, Nebraska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 68019 | $3,892 | $4,684 | $8,465 | $12,817 | $13,022 |
Source: Ownwell